Last Updated: January 09, 2023, 13:30 IST
Gold prices in Dubai registered a positive movement in the morning trading session on Monday, January 9. The prices moved up to 227.25 AED or Rs 5,063.13 compared to 226.00 AED at the previously recorded level. The prices of gold in Dubai have been showing movement since the start of 2023. On January 1 the price of a gram of 24-carat gold was 221.00 AED or Rs. 4,956.30 which saw an uptick on January 3 by 2 AED. The cost of precious yellow metal went down by 1 AED and reached 222.25 AED or Rs 4,951.73 on January 5.
According to the latest exchange rates, 1 AED equalled Rs 22.28
Today, January 9, the cost of a gram of 21-carat gold stands at 203.75 AED or Rs 4,539.55. On the other hand, for a gram of 18 carats, Dubai’s gold price reached 174.75 AED or Rs 3893.43, an increase of 1 Arab Emirate Dirham from the previously recorded level. A gram of 22-carat also moved up by 1 AED. In the morning trading session stands, gold prices stand at 210.50 AED or Rs 4689.94
In Dubai, the cost of silver also saw a similar market trend, with a marginal increase of 1 AED. On January 9 the cost of silver stood at Dh 88.07 or Rs 1,969.08 per ounce.
Dubai is among the most favoured location to buy gold for people around the world. The lower prices of the precious metal at the “City of Gold” are the main factor luring throngs of customers here each year. Due to the UAE government’s policy of not levying taxes on gold purchases made in the nation, the price of gold in Dubai is far lower than everywhere else in the world. Additionally, as businesses here adhere to the international free market pricing of the bullion, UAE gold shops give consumers the fairest prices. Customers can further reduce the overall cost of their purchase of gold jewellery by haggling with retailers over the manufacturing fees they charge.
While the rates are lower in Dubai, Indian citizens must note that there are several restrictions on the quantity of gold you could bring to India. For quantity exceeding the prescribed quantity, buyers will have to pay customs charges which will effectively bring golf prices at par or even higher than the rates in India.
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